Ann: Pathfinder Oil and Gas Reserves & Resources - Clarification, page-4

Gassed..you are on right track....

I am pleased with Reserves/Resource Report for following reasons...

1. As you know my impressions of new field potential were based on historical
performance of adjoining production...

2.Thus my assumption over whole field of 15 mill. barrels as a reserve estimate
may be now conservative given Report's estimate at "90% probability" at 30 mill
barrels..as an extension of Reserves over assessed 11%..only..of field potential.

3, My assumption at around $9/bl IGV or NPV..appears conservative given that
Report NPV is around $14/bl..or $16 mill...for 11% of field as per Report

Look forward to ongoing news to support my assumptions on share price
given whole field development in line with potential as per Report..

Cheers